U.S. stocks closed lower Monday weighed down by the financial sector as plunging shares of Deutsche Bank AG raised fears about contagion. The Dow Jones Industrial Average closed down 166.62 points, or 0.9%, at 18,094.83, with shares of Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. leading blue chips lower. The S&P 500 index finished down 18.59 points, or 0.9%, at 2,146.10, with the financial and health-care sectors leading losses. The Nasdaq Composite index fell 48.26 points, or 0.9%, to close at 5,257.49. Financial stocks were vulnerable as concerns grow that Deutsche Bank may have to raise fresh capital to pay for potential billions in U.S. fines stemming from mortgage bonds.
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